This Day in History

November 23, 1992

Business Week Predicts Computer Industry "On the Skids"

With IBM projected to lose $5 billion in 1992, Business Week describes the computer business as "an industry on the skids." The magazine cited layoffs at most established computer companies, such as IBM, as well as newer firms like Sun Microsystems, Inc., as evidence that the industry was saturated. A solution, the article concluded, would be for each business to find its proper niche.